The Gitanjali Group has debuted a gold and diamond vending machine that will allow shoppers to buy jewelry the way they buy candy bars.
What Gitanjali called the first “ATM for jewelry” premiered Oct. 22 in Mumbai. The company hopes to roll out a network of machines at the city’s premium malls, airports, and temples.
The device features 36 jewelry options, including pendants and medallions with price points up to 30,000 Indian rupees (about $600). The items can be purchased with a credit card, debit card, or cash.
Gitanjali called the new sales platform “ideally suited for last minute purchases on auspicious occasions and for gifting, providing instant gratification to the purchaser.”
“The machine is a first of its kind anywhere in the world and will further revolutionize the processes by which precious metals and jewelry are bought,” said Sanjeev Agarwal, CEO of Gitanjali Export Corp., in a statement. “It has a particular significance in India, where usually such items are purchased as tokens to observe traditions on auspicious days. But it also offers choices for occasions like Valentine’s Day, or to a husband who forgot an anniversary or his wife’s birthday!”